MARKETS: Sensex zooms 425 points as heavyweights gain; Nifty ends at 11,483

All that happened in markets today

3:46 PM

MARKET COMMENT :: Devang Mehta, Head – Equity Advisory, Centrum Wealth Management

Indian markets have been recipient of robust foreign flows this entire march on the back of increased likelihood of strong political stability & policy continuity post elections and the softer stance adopted by global central banks. The buying in index heavyweights continued after market saw a couple of days of correction, which was actually a healthy sign. There seems to be enough appetite to put money to work in good Indian companies with robust fundamentals.

With the fourth quarter result season being just around the corner, the participants will watch the earnings trajectory closely for the rally to sustain or gather further steam. As the important benchmark indices move toward life high, broader markets still offer a lot of opportunities to accumulate good quality businesses at reasonable valuations

3:41 PM

Sectoral gainers and losers on NSE

3:40 PM

Top gainers and losers on BSE

3:38 PM

MARKET AT CLOSE

The S&P BSE Sensex rallied 425 points or 1.12 per cent to settle at 38,233.41, while NSE's Nifty50 index closed at 11,483, up 129 points or 1.14 per cent. 

3:10 PM

ICICI Securities on L&T Infotech

We expect LTI to witness healthy double-digit revenue growth of 16.7% CAGR in FY18-21E in dollar terms with stable EBITDA margins of 19.3% and net profit margins of 15% in FY21E. Thus, we initiate coverage on the stock with a BUY recommendation and a target price of Rs 1,950/share based on 18x FY21E EPS. In our view, our target multiple for LTI is justified considering the robust growth trajectory implying a PEG ratio of 0.8x and strong return ratio (RoCE – 34.4% in FY21E).

3:00 PM

MARKET CHECK

2:56 PM

Pidilite Industries hits record high of Rs 1,239; stock surges 5%

Pidilite Industries shares hit a record high of Rs 1,239, up 5 per cent, in intra-day trade on the BSE on Tuesday, on the expectation of healthy earnings growth. The stock of specialty chemicals surpassed its previous high of Rs 1,209 reported on December 19, 2018 in intra-day deal. READ MORE

2:47 PM

Adani Enterprises is trading over 3.5% higher

2:36 PM

Here are the five crucial financial tasks you must complete before March 31

For most salaried people, March 31 means a rush to complete unfinished investments for tax saving. However, there are more things, other than such investments, that need to be done before the financial year comes to a close. Here are 5 things you must do before this weekend: Invest for tax saving Financial planners say that you should ideally plan your investments from the beginning of the financial year. READ MORE

2:19 PM

NEWS ALERT | HCC to transfer arbitration awards, calims of Rs 1750 cr to investors: TV reports

2:16 PM

Philip Capital on LIC Housing Finance

We model 21% earnings CAGR over FY18‐21 translating into an improvement in RoE to +17% from 16% in FY18. The stock saw trough valuations of about 1.15x P/BV in September 2013. We expect spread to improve to 1.3% in FY20, much above its trough spread. Historically, the median valuation for LICHF has been 1.9x – we value the entity at 1.9x one‐year forward book value to arrive at a target of Rs 625 (Rs 520 earlier). 

2:12 PM

Agri commodity derivatives space set to hot up as NSE forays, BSE expands

Stock exchanges like BSE and the National Stock Exchange (NSE) entered the commodity derivatives space last October and the initial expectation was that the bourse would look at agri space after its non-agri business stabilises. READ MORE

2:09 PM

ICRA on TRAI's new tariff regime

ICRA has considered various scenarios to evaluate the likely impact of the new tariff regime on the monthly bills of the consumers. As per ICRA’s analysis, assuming that the consumer continues to opt for channels (only standard definition (SD)) across genres and broadcasters, as was the case in

the pre-tariff order regime, the monthly bill is likely to go up by as high as 44%.

2:06 PM

Reliance Securities on Aurobindo Pharma

Despite challenging environment in the US, we expect Aurobindo Pharma’s revenue to clock 13% CAGR over FY18-21E led by new launches (122 pending for approval) and ramp-up in injectable business.  With double-digit margin in European business, we expect further improvement in margin led by cost savings following transfer of products from Europe to Indian manufacturing units.  At CMP, the stock trades at a discount to its peers owing to higher leverage. We maintain our BUY recommendation on the stock with a Target Price of Rs 860.

1:55 PM

Sectoral trends on NSE

1:45 PM

Dabur India rises over 2%

1:35 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
JET AIRWAYS	277.45	22.95	9.02	4085244
TAKE SOLUTIONS	136.05	11.15	8.93	99482
GMR INFRA.	18.55	1.45	8.48	2977594
RELIANCE CAPITAL	199.00	13.65	7.36	1356476
DLF	202.20	12.80	6.76	1480755

1:23 PM

Jubilant Life Sciences hits four-month low; falls 21% in five days

Shares of Jubilant Life Sciences hit a four-month low of Rs 689 apiece on BSE, down 5 per cent in the intra-day trade on Tuesday. The stock of the pharmaceutical company was trading at its lowest level since November 21, 2018. It has fallen 21 per cent in five days. READ MORE

1:15 PM

Ashok Leyland is trading 2% lower

1:06 PM

NEWS ALERT | LIC cuts stake in ACC by 3.1% to 6.7% from Feb 1-March 22: TV reports

1:04 PM

Reliance Infra is trading over 5% higher

12:51 PM

Sebi intervention needed after markets stabilise: UTI MF's Amandeep Chopra

Debt market investing has not been a pleasant experience for mutual funds (MFs) of late. Besides loan-against-share (LAS) structures seeing a strain, non-banking financial companies (NBFCs) exposed to developer funding pose contagion risks to the markets. READ MORE

12:40 PM

Heatmap: S&P BSE Sensex

12:28 PM

Market check

12:01 PM

Asian Paints nears all-time high; stock up 33% in FY19

Asian Paints shares were up 2 per cent at Rs 1,489 in the intra-day trade on the National Stock Exchange (NSE) on the expectation of higher volume traction in decorative paints segment across categories. The stock was trading close to its all-time high level of Rs 1,491 hit on July 25, 2018, in intra-day deal. READ MORE

11:52 AM

Markets failed to sizzle under NDA govt in last five years, say experts

When the BJP-led National Democratic Alliance (NDA) came to power in May 2014, the markets rallied buoyed by the hope that the resounding mandate given to the NDA would lead to policy decisions favourable to industry. However, five years on, the benchmark Sensex is up only 53 per cent since May 26, 2014, the day Narendra Modi was sworn in as the 15th Prime Minister of the country. READ MORE

11:40 AM

Stocks that hit 52-week high on BSE500

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
DIVI'S LAB.	1698.20	1767.10	-8.95	-0.52
PIDILITE INDS.	1213.45	1215.60	35.20	2.99
REC LTD	158.20	159.00	3.40	2.20

11:29 AM

United Breweries hits three-month low on volume growth concerns

Shares of United Breweries (UBL) hit a three-month low of Rs 1,293, down 2 per cent on the BSE in intra-day trade on Tuesday on concerns of lower volume growth during the general elections. READ MORE

11:05 AM

Web Exclusive | 20 Nifty F&O segment stocks that can rally from the current levels

Over the years, rising stock prices with an upswing in volume has been studied as a strong trend indicator, which shows the possibility of a further upward move in scrips. A correction in such stocks at support levels has seen the addition of buying and a sustained consolidation. READ MORE

11:01 AM

JM Financial on KNR Constructions

The company has achieved financial closure (FC) for its 4 HAM projects (for NHAI) but the land acquisition and appointed dates (AD) are still pending for 3 of these (Shankarampet project also has pending forest clearance). The sale of HAM projects to Cube Highways and Infrastructure III Pte Ltd (Cube) with an option to invest further in future assets augurs well for KNR’s balance sheet. Going ahead, the management targets a sustainable revenue / OI growth with at least 15% EBITDA margins, concentrating on roads and specialised engineering works (like metros). In the current scenario of higher EPC competition and few players with the financial strength to bid for HAM projects, we prefer those with a strong balance sheet and stable growth. Given its completed FCs, low D/E, efficient execution and working capital (WC) management, we remain positive on KNR.